vs
BXP, Inc.（BXP）与美商海盗船（CRSR）财务数据对比。点击上方公司名可切换其他公司
BXP, Inc.的季度营收约是美商海盗船的2.0倍（$872.1M vs $436.9M），BXP, Inc.净利率更高（15.3% vs 5.9%，领先9.3%），美商海盗船同比增速更快（5.6% vs 0.8%），过去两年美商海盗船的营收复合增速更高（13.8% vs 1.3%）
BXP是美国头部商业地产投资信托企业，核心业务为持有、运营及开发A级高端写字楼资产，项目覆盖纽约、波士顿、旧金山等美国核心都市圈，服务企业、科技、专业服务等领域的多元租户。
美商海盗船是源自美国的电脑外设与电竞硬件品牌，总部位于加利福尼亚州米尔皮塔斯。公司创立于1994年，原名海盗船微系统，后更名为海盗船组件、海盗船内存，2007年重新在特拉华州注册。主打产品涵盖高速内存模块、电源、闪存、CPU显卡与机箱散热、电竞外设、电脑机箱等各类电脑相关产品。
BXP vs CRSR — 直观对比
营收规模更大
BXP
是对方的2.0倍
$436.9M
营收增速更快
CRSR
高出4.8%
0.8%
净利率更高
BXP
高出9.3%
5.9%
两年增速更快
CRSR
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $872.1M | $436.9M |
| 净利润 | $133.0M | $25.8M |
| 毛利率 | — | 33.1% |
| 营业利润率 | — | 6.2% |
| 净利率 | 15.3% | 5.9% |
| 营收同比 | 0.8% | 5.6% |
| 净利润同比 | 53.0% | 1028.2% |
| 每股收益（稀释后） | $1.69 | $0.23 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BXPCRSR
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $436.9M | ||
| Q3 25 | $871.5M | $345.8M | ||
| Q2 25 | $868.5M | $320.1M | ||
| Q1 25 | $865.2M | $369.8M | ||
| Q4 24 | $858.6M | $413.6M | ||
| Q3 24 | $859.2M | $304.2M | ||
| Q2 24 | $850.5M | $261.3M |
净利润BXPCRSR
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $25.8M | ||
| Q3 25 | $-121.7M | $-10.6M | ||
| Q2 25 | $89.0M | $-20.9M | ||
| Q1 25 | $61.2M | $-10.5M | ||
| Q4 24 | $-228.9M | $2.3M | ||
| Q3 24 | $83.6M | $-51.7M | ||
| Q2 24 | $79.6M | $-24.2M |
毛利率BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 33.1% | ||
| Q3 25 | 59.3% | 26.9% | ||
| Q2 25 | 59.2% | 26.8% | ||
| Q1 25 | 59.2% | 27.7% | ||
| Q4 24 | 59.7% | 26.2% | ||
| Q3 24 | 59.5% | 22.9% | ||
| Q2 24 | 59.8% | 24.1% |
营业利润率BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | — | -5.3% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | -6.9% | ||
| Q2 24 | — | -9.5% |
净利率BXPCRSR
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 5.9% | ||
| Q3 25 | -14.0% | -3.1% | ||
| Q2 25 | 10.2% | -6.5% | ||
| Q1 25 | 7.1% | -2.8% | ||
| Q4 24 | -26.7% | 0.6% | ||
| Q3 24 | 9.7% | -17.0% | ||
| Q2 24 | 9.4% | -9.3% |
每股收益（稀释后）BXPCRSR
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.23 | ||
| Q3 25 | $-0.77 | $-0.09 | ||
| Q2 25 | $0.56 | $-0.16 | ||
| Q1 25 | $0.39 | $-0.10 | ||
| Q4 24 | $-1.46 | $0.01 | ||
| Q3 24 | $0.53 | $-0.56 | ||
| Q2 24 | $0.51 | $-0.28 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $512.8M | — |
| 总债务越低越好 | — | $121.3M |
| 股东权益账面价值 | $7.7B | $633.6M |
| 总资产 | $25.1B | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资BXPCRSR
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $861.1M | — | ||
| Q2 25 | $447.0M | — | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $685.4M | — |
总债务BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | — | $121.3M | ||
| Q3 25 | — | $122.9M | ||
| Q2 25 | — | $124.4M | ||
| Q1 25 | — | $148.7M | ||
| Q4 24 | — | $173.5M | ||
| Q3 24 | — | $177.2M | ||
| Q2 24 | — | $180.3M |
股东权益BXPCRSR
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $633.6M | ||
| Q3 25 | $5.0B | $600.2M | ||
| Q2 25 | $5.3B | $603.9M | ||
| Q1 25 | $5.3B | $608.8M | ||
| Q4 24 | $5.4B | $604.3M | ||
| Q3 24 | $5.8B | $598.5M | ||
| Q2 24 | $5.8B | $642.7M |
总资产BXPCRSR
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $1.3B | ||
| Q3 25 | $26.0B | $1.2B | ||
| Q2 25 | $25.6B | $1.2B | ||
| Q1 25 | $25.4B | $1.2B | ||
| Q4 24 | $26.1B | $1.2B | ||
| Q3 24 | $26.4B | $1.2B | ||
| Q2 24 | $25.5B | $1.2B |
负债/权益比BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.20× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.28× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $38.2M |
| 自由现金流经营现金流 - 资本支出 | — | $32.9M |
| 自由现金流率自由现金流/营收 | — | 7.5% |
| 资本支出强度资本支出/营收 | 1.5% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 1.48× |
| 过去12个月自由现金流最近4个季度 | — | $34.7M |
8季度趋势，按日历期对齐
经营现金流BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $38.2M | ||
| Q3 25 | $274.2M | $-37.0M | ||
| Q2 25 | $353.1M | $30.2M | ||
| Q1 25 | $210.0M | $18.8M | ||
| Q4 24 | $383.7M | $55.6M | ||
| Q3 24 | $286.1M | $25.1M | ||
| Q2 24 | $367.1M | $-18.5M |
自由现金流BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $32.9M | ||
| Q3 25 | $231.6M | $-41.3M | ||
| Q2 25 | $281.5M | $27.5M | ||
| Q1 25 | $152.6M | $15.7M | ||
| Q4 24 | $312.5M | $54.1M | ||
| Q3 24 | $234.5M | $21.8M | ||
| Q2 24 | $332.4M | $-21.0M |
自由现金流率BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 7.5% | ||
| Q3 25 | 26.6% | -12.0% | ||
| Q2 25 | 32.4% | 8.6% | ||
| Q1 25 | 17.6% | 4.2% | ||
| Q4 24 | 36.4% | 13.1% | ||
| Q3 24 | 27.3% | 7.2% | ||
| Q2 24 | 39.1% | -8.0% |
资本支出强度BXPCRSR
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.2% | ||
| Q3 25 | 4.9% | 1.3% | ||
| Q2 25 | 8.2% | 0.8% | ||
| Q1 25 | 6.6% | 0.8% | ||
| Q4 24 | 8.3% | 0.4% | ||
| Q3 24 | 6.0% | 1.1% | ||
| Q2 24 | 4.1% | 1.0% |
现金转化率BXPCRSR
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.48× | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | 24.30× | ||
| Q3 24 | 3.42× | — | ||
| Q2 24 | 4.61× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
CRSR
| Gamer And Creator Peripherals | $164.9M | 38% |
| Memory Products | $156.1M | 36% |
| Inventory Costs | $85.6M | 20% |
| Other Segment Items | $16.9M | 4% |
| Other | $13.3M | 3% |
